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Started By
Message
Over the limit on CC
Posted on 8/9/13 at 8:41 am
Posted on 8/9/13 at 8:41 am
I just got my first credit card less than a year ago, so I don’t have a very high limit. I charge most of my purchases to it in order to build credit and get rewards, and I pay it off in full every month. Well this month, I got careless and without realizing it charged $30 over the limit. I really don’t want to pay a fee or have my credit dinged. The statement isn’t posted for another three days, so can I just pay it off now before the statement to avoid this? Or is there anything else I can do?
This may be a stupid question, but I am not really sure how exactly this works. Thanks in advance to anyone that helps.
This may be a stupid question, but I am not really sure how exactly this works. Thanks in advance to anyone that helps.
8
Posted on 8/9/13 at 8:43 am to The Seaward
Call your CC company right now, tell them what happened and see if they will work with you
Posted on 8/9/13 at 8:46 am to The Seaward
They might automatically raise your limit. Especially if your payment history (although short) is timely.
Posted on 8/9/13 at 8:58 am to The Seaward
First of all, if it is just a standard credit card and not a rewards card, chances are there is no over the limit fee. Second, if you quickly pay it off before statement date, you will likely be fine. They only check your balance periodically, so they likely will not know you went over the limit if you pay the balance quickly.
Posted on 8/9/13 at 8:59 am to The Seaward
quote:
or have my credit dinged
Other than over utilization, you will not get dinged for going over your limit.
Posted on 8/9/13 at 9:02 am to The Seaward
quote:
so can I just pay it off now before the statement to avoid this?
If it didnt already ring you up with a fee automatically then you should be fine paying it before the statement is made. The statement will be created based on current status.
Posted on 8/9/13 at 9:07 am to The Seaward
Just call the CC company and talk with them. A lot of times they will make concessions if it is your first issue.
Posted on 8/9/13 at 1:25 pm to The Seaward
Pay whatever your statement says is owed. If they tack on an extra fee that will show up on your next statement, you can then call them and ask to have it removed. Which they possibly will if you've been good so far.
Posted on 8/9/13 at 1:31 pm to The Seaward
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